Brown Advisory Inc. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 34.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,965 shares of the real estate investment trust's stock after selling 8,033 shares during the period. Brown Advisory Inc.'s holdings in Crown Castle were worth $1,560,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CCI. Crossmark Global Holdings Inc. increased its stake in Crown Castle by 6.9% in the first quarter. Crossmark Global Holdings Inc. now owns 75,045 shares of the real estate investment trust's stock valued at $7,822,000 after purchasing an additional 4,843 shares during the last quarter. Gilliland Jeter Wealth Management LLC lifted its position in shares of Crown Castle by 19.5% during the first quarter. Gilliland Jeter Wealth Management LLC now owns 7,576 shares of the real estate investment trust's stock worth $790,000 after purchasing an additional 1,234 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Crown Castle by 8.4% during the first quarter. Penserra Capital Management LLC now owns 15,375 shares of the real estate investment trust's stock valued at $1,601,000 after acquiring an additional 1,192 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Crown Castle in the first quarter worth $343,000. Finally, Compass Wealth Management LLC raised its stake in Crown Castle by 13.5% during the first quarter. Compass Wealth Management LLC now owns 57,962 shares of the real estate investment trust's stock valued at $6,041,000 after buying an additional 6,897 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Crown Castle
In other Crown Castle news, VP Robert Sean Collins sold 3,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the transaction, the vice president owned 6,465 shares of the company's stock, valued at approximately $689,944.80. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel K. Schlanger sold 20,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the sale, the chief executive officer directly owned 110,571 shares in the company, valued at approximately $11,762,542.98. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,600 shares of company stock worth $3,362,752 over the last ninety days. Company insiders own 0.10% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. New Street Research raised shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. Wall Street Zen cut shares of Crown Castle from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. UBS Group boosted their price objective on shares of Crown Castle from $118.00 to $124.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Scotiabank boosted their target price on shares of Crown Castle from $99.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $113.06.
View Our Latest Report on Crown Castle
Crown Castle Stock Up 0.4%
Crown Castle stock traded up $0.45 on Monday, hitting $103.21. The company's stock had a trading volume of 2,649,777 shares, compared to its average volume of 3,222,684. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a fifty day moving average price of $101.30 and a 200-day moving average price of $97.38. The firm has a market cap of $44.94 billion, a P/E ratio of -9.59, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88.
Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $1.72 EPS. The business's revenue was down 4.8% on a year-over-year basis. Analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.
Crown Castle Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $1.0625 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.12%. Crown Castle's dividend payout ratio (DPR) is currently -39.50%.
About Crown Castle
(
Free Report)
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.
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